In line with its goal to be the premier ESG investment in the country, the risk management app called NAC Risk Dashboard (NARDA) is a uniform software meant to help the company harmonize its risk management efforts.
NAC said it aims to serve as a digital assistant for the Risk Management Committees (RMCs) for its nine subsidiaries.
It would also help identify, assess, and mitigate the risks in the firm’s operations, track and manage incidents that may arise from these, and help plot a business continuity plan.
“It is essential that we learn to manage our risks strategically, effectively, and efficiently,” NAC president and CEO Martin Antonio Zamora said.
The company said NARDA is also a testament to the company embracing an Integrated Enterprise Risk Management (ERM) approach to better address its risks and opportunities, anchored on responsible leadership, defined accountabilities, co-ownership, collaboration, and continuous improvement.
Moreover, this is a way for NAC to achieve one of its ESG goals of having a Robust and Comprehensive Risk Management Systems under its governance pillar. The goal also covers data protection.
“Our Integrated ERM has three main goals: operational excellence, growing shareholder value, and increasing investor confidence to establish staying power. We are doing this not for compliance, but because it is the right thing to do. Let us strive to keep improving ourselves and our processes,” Zamora said.
The project was a collaboration between the NAC Risk Management (RM) and the NAC Information, Communications and Technology departments.
Through the app, which operationalizes the company’s integrated ERM, the employees will be allowed to report incidents, emergencies, and crises.
Once complete, it also has the capacity to monitor natural events, socio-economic trends, security alerts, political activities, and other pertinent information that can help the RMCs plot a corresponding action plan.
NAC s hopes that NARDA will serve as a blueprint for other mining companies in the Philippines to follow as they become better equipped to respond to risks.
“We are offering ourselves as the guinea pig of the mining industry in the sustainability journey.
“We will commit the mistakes, learn the process, but if we succeed and become a good model, the DENR (Department of Environment and Natural Resources), they can more confidently establish a greener future,” NAC senior vice president for risks, sustainability, and communications Jose Bayani Baylon said.
“We’re building something worth lasting because that’s the essence of what Nickel Asia is: a sustainable mineral resource development company, not only for self but for community and for country,” NAC chairman of the board risk oversight committee Angelo Valencia said.
NARDA was launched last week during NAC’s maiden Risk Conference held in Cebu, where other subsidiaries also finalized the 2023 Risk Assessment and mitigation plans.
These subsidiaries include Cagdianao Mining Corp., Taganito Nickel Services Co. Inc., Cordillera Exploration Co. Inc., Cagdianao Mining Corp., Dinapigue Mining Corp., Hinatuan Mining Corp. (HMC) both from Tagana-an and Manicani, Rio Tuba Nickel Mining Corp., Taganito Mining Corp., and Emerging Power Inc.
The three-day conference – a first in the local mining and renewable energy space – consisted of breakout sessions among the sites’ risk officers, managers, and officers, as well as talks from experts in the fields of communications, empowerment, systems and designs thinking, climate change, fostering blameless culture, operations, governance, and organizational culture and behavior, among others.